Eli Lilly Stock Nabs Record on Obesity Drug Trial Data

Shares are up 39% year-over-year

Digital Content Manager
Jun 27, 2023 at 11:08 AM
facebook X logo linkedin


Eli Lilly And Co (NYSE:LLY) released mid-stage trial data earlier today showing its obesity drug candidate promoted weight loss of up to 24.2% after 48 weeks, beating competitors' results. The update comes as the weight-loss treatment market is reportedly expected to reach $100 billion by 2030. Additionally, the company declared a dividend of $1.13 per share for the third quarter.

In response, Barclays hiked LLY's price target to $500 from $420. More bull notes could be coming, given the security's 12-month consensus target price of $452.48 stands at a small discount to current trading levels.

Last seen up 0.7% at $455.75, Eli Lilly stock surged to an all-time high of $467.98 right out of the gate. The security is today eyeing its fifth win in six sessions, with long-time support from its 30-day moving average. Year-over-year, shares are up 39%.

Options volume is already running at double the intraday average volume, with 7,707 calls and 4,648 puts traded so far. The most popular contract is the weekly 6/30 470-strike call.
 
It's also worth noting that LLY boasts affordably priced premiums, per its Schaeffer's Volatility Index (SVI) of 23% that sits at the low 13th percentile of annual readings. In simpler terms, now looks like a great opportunity to bet on the equity's next moves with options. 
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI